LogRhythm Partners with eFinance to Strengthen Egypt’s Digital Payment Security Ecosystem
Cairo, Egypt, 24, April 2023 – LogRhythm, the company empowering security teams to navigate the ever-changing threat landscape with confidence, has partnered with eFinance, a subsidiary of eFinance Investment Group to rapidly detect and mitigate threats in Egypt’s digital payment security ecosystem with LogRhythm SIEM, LogRhythm’s security information and event management (SIEM) solution. LogRhythm has partnered with eFinance to secure operations across the entire Egyptian payment network and establish its reputation as a trusted fintech provider throughout the region.
By adding LogRhythm SIEM into its security systems, eFinance benefits from reduced mean time to detect (MTTD) and mean time to respond (MTTR). It gains a scalable, accessible and easy-to-integrate solution that will enable it to establish a fully functional security operations center (SOC) with a unified security solution that can grow with its business.
“The fintech sector is a massive target for threat actors as they continue to launch attacks on industries that give them the biggest pay-out. Egypt must strengthen its security posture to keep consumers safe and maintain trust within the digital economy. Our SIEM solution is providing the tools for eFinance to detect security issues before they can cause damage,” said Mazen Adnan Dohaji, General Manager and Vice President, IMETA at LogRhythm. “As the digital payment ecosystem continues to grow, creating a safer financial environment for businesses, governments and customers is more important than ever. We’re working in partnership with eFinance to transform digital payment security and create better financial customer experiences throughout the region.”
eFinance is now able to leverage custom rules that protect its critical servers and quickly remediate security issues. Its SOC benefit from a single pane-of-glass view for full visibility over its entire network. This allows eFinance to identify risks earlier in the Cyber Attack Lifecycle and provide a secure service to its customers in Egypt.
“Not many SIEM solutions on the market support our need to scale. LogRhythm SIEM provides us with a flexible, scalable, and reliable solution that can evolve to match the ever-changing threat environment,” said Mahmoud Dorgham, InfoSec Head at eFinance. “LogRhythm’s integration capabilities, and its user-friendly interface and dashboards allow our analysts to drill down on emerging security risks in real time. With LogRhythm we know our security needs are covered. This means we can focus on the continued development of our digital financial network whilst overcoming significant security threats.”
eFinance is a national developer of digital payments infrastructure in Egypt and has successfully built a solid foundation to provide industry-leading fintech solutions across the nation. It is an integral partner in the Egyptian government’s push for digitization. Its flagship Government Financial Network processes an annual aggregate of around 500 million transactions for 1.6 trillion Egyptian Pounds (EGP) between government payments and collections.
eFinance for digital operations is eFinance Investment Group’s flagship subsidiary which utilizes a fully integrated system of end-to-end payment infrastructures to develop and operate financial networks and to provide government, businesses, and consumers with a broad and innovative suite of digital products.
eFinance for Digital Operations’ remit encompasses G2G, G2B, G2C, B2B and B2B2C transactions. The subsidiary offers a modern technological infrastructure providing strong encryption and maximum security for the support of e-payment systems, through a network of platforms guaranteeing business continuity.
LogRhythm helps security teams stop breaches by turning disconnected data and signals into trustworthy insights. From connecting the dots across diverse log and threat intelligence sources to using sophisticated machine learning that spots suspicious anomalies in network traffic and user behavior, LogRhythm accurately pinpoints cyberthreats and empowers professionals to respond with speed and efficiency.
With cloud-native and self-hosted deployment flexibility, out-of-the-box integrations, and advisory services, LogRhythm makes it easy to realize value quickly and adapt to an ever-evolving threat landscape. Together, LogRhythm and our customers confidently monitor, detect, investigate, and respond to cyberattacks. Learn more at logrhythm.com.